News Analysis India

Tag: petrol price

  • Petrol at Rs 100: Thane NCP puts up ‘celebratory’ hoardings

    By PTI
    THANE: The Thane unit of the NCP on Friday put up billboards across the city “celebrating” the cost of petrol hitting the century mark, and took a swipe at the Narendra Modi government by telling people such price rise was the Centre’s idea of “achche din”.

    Thane NCP president Anand Paranjpe said fuel prices were rising over the past fortnight and petrol was retailing at Rs 100 in the city.

    Petrol price had, on Thursday, crossed the Rs 100-a- litre mark here after the price of petrol was increased by 24 paise per litre and diesel by 29 paise a litre.

    The increase – 14th this month – took petrol and diesel prices to an all-time high across the country.

  • Petrol hits record Rs 99.71/litre in Mumbai after another fuel price hike

    By PTI
    NEW DELHI: Petrol price inched towards the Rs 100-mark in Mumbai on Tuesday after fuel rates were hiked again.

    Petrol price was increased by 23 paise per litre and diesel by 25 paise a litre, according to a price notification of state-owned fuel retailers.

    The hike – 13th this month – pushed petrol and diesel prices to record-high levels across the country.

    Petrol price in Delhi rose to Rs 93.44 a litre and diesel to Rs 84.32 a litre.  In Mumbai, petrol price climbed to Rs 99.71 a litre and diesel to Rs 91.57 per litre.

    Rates had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, the price in Mumbai too was inching towards that level.

    Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.

    Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.

    Oil companies revise rates of petrol and diesel daily based on average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

    This is the 13th increase in prices since May 4, when the state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.

    Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 104.42 per litre and Rs 97.18 a litre, respectively.

    In 13 increases, petrol price has risen by Rs 3.04 per litre and diesel by Rs 3.59.

  • Fuel rates controlled before polls, but raised later, says Maharashtra Minister Jayant Patil

    By PTI

    MUMBAI: Maharashtra Water Resources Minister Jayant Patil on Wednesday hit out at the Centre over fuel price hike, claiming the rates of petrol and diesel are controlled ahead of elections, but increased after polls get over.

    Patil, who is also the state NCP chief, asked Union Finance Minister Nirmala Sitharaman to throw light on what planning is this.

    Petrol and diesel prices were hiked by 25 paise per litre each on Wednesday, the third increase this week, propelling the petrol price to cross the Rs 100 per litre-mark in various cities, including Bhopal and Indore.

    The petrol and diesel prices are now at record high across the country, as per the price notification of state- owned fuel retailers.

    “The Union finance ministry is making financial plans of a different class. The rates of petrol and diesel are controlled when polls are around and price rise is certain once the polls are over. @nsitharaman should throw light on what planning it is,” Patil tweeted, using the hashtag ‘PetrolDieselPriceHike’.

    He did not mention any specific polls in his tweet.

    Notably, fuel prices were cut in March and April this year.

    During the last two months, Assembly elections were held in West Bengal, Assam, Tamil Nadu, Kerala and Puducherry.

    On Wednesday, the petrol price in Mumbai was hiked to Rs 98.36 a litre from Rs 98.12, while the diesel rate was increased to Rs 89.75 from Rs 89.48, the price notification showed.

    According to a statement issued by Patil, the petrol price is the highest in Marathwada’s Parbhani district at Rs 100.75 per litre, while diesel is being sold there at Rs 90.68 per litre.

  • Rahul Gandhi alleges Centre made petrol-diesel cheaper by 17/18 paise per litre due to elections

    By ANI
    NEW DELHI: Congress leader Rahul Gandhi on Sunday alleged that the Central Government has made petrol-diesel cheaper by 17/18 paise per litre in the view of Assembly elections in four states and Puducherry.

    “Due to the election, the central government has made petrol-diesel cheaper by 17/18 paise per liter. What will you do with this amount of savings?” he tweeted.

    Gandhi has been slamming the economic policies of the BJP-led government and had said earlier this week that it has increased unemployment and poverty.

    A total of 824 assembly constituencies will be going for polls in four states–Kerala, Tamil Nadu, West Bengal, Assam– and the Union Territory of Puducherry.

    The polling in these states has started on March 27 and end on April 29. The counting of votes for elections to four states and one UT will be held on May 2.

    As many as 18.68 crore electors will cast votes at 2.7 lakh polling stations in Tamil Nadu, West Bengal, Kerala, Assam, and Puducherry.

    The first phase of the Assam and West Bengal Assembly elections concluded on Saturday. (ANI)

  • Truth about government collecting high revenues from petrol, diesel clear now: Rahul Gandhi

    By PTI
    NEW DELHI: Congress leader Rahul Gandhi on Tuesday launched a fresh attack on the government over rise in fuel prices, saying the truth about the government collecting high revenues from petrol and diesel is clear now.

    “By collecting tax indiscriminately on LPG-petrol-diesel from the common people, the central government is waiving the taxes and debts of its ‘friends’. The truth is clear,” he said in a tweet in Hindi.

    LPG-पेट्रोल-डीज़ल पर आम जन से अंधाधुंध टैक्स वसूली करके केंद्र सरकार अपने ‘मित्र’ वर्ग का टैक्स व क़र्ज़ माफ़ कर रही है।सच साफ़ है! pic.twitter.com/vEWKlsavu1
    — Rahul Gandhi (@RahulGandhi) March 9, 2021

    He cited a news report claiming that petroleum minister Dharmendra Pradhan in a reply in Parliament stated that in the last 7 years, LPG rates have doubled and tax collection on petrol and diesel has risen by 459 per cent in the same period.

    Gandhi and his Congress party have been attacking the government over high fuel prices, alleging that it has collected over Rs 21 lakh crore by way of taxes on petroleum products ever since coming to power in 2014.

    The Congress stalled proceedings in both houses of Parliament for the second day in a row on Tuesday over the rise in prices of petroleum products and demanded a discussion on the issue.

  • Petrol is cheaper by Rs 12, diesel by Rs 4 in Chhattisgarh, thanks to lower VAT

    Amid the rising fuel prices across the country, Chhattisgarh has it under control as petrol is cheaper by Rs 12 and diesel by Rs 4 in the state than in other states.

    Chief Minister Bhupesh Baghel says that the reason is his government’s decision to have a VAT rate lower than the neighbouring states. At present, the VAT rate for transport fuels in Chhattisgarh is 25% plus Rs 2 per litre on petrol and 25% plus Re 1 per litre on diesel.

    In the Raipur district, petrol is sold at Rs 87.28 per litre and diesel at Rs 85.66 per litre. 

    Compared to this, the petrol price in the Gondia district of Maharashtra is Rs 96.07 per litre and diesel Rs 86.31 per litre. Likewise in the Balaghat district of Madhya Pradesh, petrol is being sold at Rs 99.07 per litre and diesel Rs 89.55/litre. In the Sonbhadra district of Uttar Pradesh, the petrol price is Rs 87.76 per litre and diesel Rs 84.24 per litre. 

    In Simdega of Jharkhand, the petrol price is Rs 87.81 per litre and diesel price Rs 85.19 per litre. In Bargarh of Odisha, the petrol price is Rs 90.64 per litre and diesel price Rs 87.34 per litre. 

    The base price of petrol is Rs 19.48 per litre, on which the Central government imposes central excise of Rs 31.98, whereas the Chhattisgarh government imposes VAT of Rs 15.11.

    Similarly, the base price of diesel of Rs 28.66, on which the Centre imposes central excise of Rs 31.83, whereas Chhattisgarh imposes only Rs 16.12 as VAT.

  • Rajasthan CM Ashok Gehlot attacks Modi government over rising fuel prices

    By PTI
    JAIPUR: Rajasthan Chief Minister Ashok Gehlot on Saturday said fuel prices have been increasing for 11 days and the common man is suffering as a result of ‘wrong’ economic policies of the Centre.

    In a series of tweets, Gehlot targeted the Centre and cleared his stand on the rumours that Rajasthan levies highest tax on fuel prices.

    “The Modi government imposes excise duty of Rs 32.90 on petrol and Rs 31.80 per litre on diesel. Whereas during the UPA government in 2014 there was an excise duty of only Rs 9.20 on petrol and just Rs 3.46 on diesel. The Modi government should reduce excise duty in the interest of the public without delay,” he tweeted in Hindi.

    “People are affected by petrol and diesel prices. Prices have been increasing continuously for the last 11 days. This is the result of wrong economic policies of the Modi government. Crude oil prices in the international market are currently half of what it used to be during the UPA rule, but petrol-diesel prices have reached an all-time high,” Gehlot said in another tweet.

    The chief minister claimed that the Centre has continuously reduced the part of basic excise duty of the states and increased the additional excise duty and special excise duty on the central portion “only to fill its treasury”.

    Consequently, the state governments have to increase VAT (value-added tax) to raise their economic resources, the chief minister said.

    Gehlot said the economy of Rajasthan has been badly affected due to COVID-19 and the state’s revenue has decreased.

    But, the state government reduced VAT by 2 per cent in the last month to give relief to the common people, he added.

    “Instead of giving any such relief, the Modi government is increasing the prices of petrol and diesel every day,” Gehlot said.

    He further said, “Some people spread rumours that the Rajasthan government imposes the highest tax on petrol, so the price is high here. Petrol in BJP-ruled Madhya Pradesh is taxed more than Rajasthan, so the price of petrol in Jaipur is less than Bhopal.”

  • Petrol crosses Rs 99/litre in Rajasthan, diesel at Rs 91 as prices rise for 6th day

    By PTI
    NEW DELHI: Petrol price crossed the Rs 99 a litre mark in Rajasthan on Sunday while diesel topped Rs 91 after rates were increased for the sixth day in a row.

    Petrol price was increased by 29 paise per litre and diesel by 32 paise, according to a price notification of state-owned fuel retailers.

    This pushed retail rates, which differ from state to state depending on incidence of local sales tax or VAT and freight charges, to their highest level.

    In the national capital, petrol climbed to Rs 88.73 a litre and diesel soared to Rs 79.06, the notification showed.

    Rajasthan, which levies the highest VAT on fuel in the country, had the highest petrol and diesel prices.

    In Sriganganagar town of the state, petrol soared to Rs 99.29 and diesel jumped to Rs 91.17 per litre.

    The Rajasthan government had late last month cut VAT on petrol and diesel by 2 per cent.

    Despite this, the state has the highest VAT at 36 per cent plus Rs 1,500 per kilolitre road cess on petrol.

    On diesel, the state levies 26 per cent and Rs 1,750 per kl road cess.

    Branded or premium petrol at Sriganganagar was priced at Rs 102.07 a litre and similar grade diesel at Rs 94.83.

    The main difference between regular and premium fuel grades is the octane number.

    Regular fuel has a lower octane number — 87, while premium fuel generally gets a 91 ocane rating or higher.

    Octane number is a measure of the ignition quality of fuel — higher the number, the less susceptible is the fuel to ‘knocking’ when burnt in a standard engine.

    Regular petrol in Delhi comes for Rs 88. 73 per litre while premium fuel is priced at Rs 91.56.

    Against Rs 79.06 a litre price of regular diesel, branded fuel comes for Rs 82.35.

    In Mumbai, regular petrol price soared to its highest ever level of Rs 95.21 and that of diesel rose to Rs 86.04.

    Premium or branded petrol in the city comes for Rs 97.99 and same grade diesel for Rs 89.27 a litre.

    In six straight days, prices have gone up by Rs 1.80 per litre for petrol and Rs 1.88 for diesel.

    The relentless hike in prices has been criticised by the opposition parties including Congress that has demanded an immediate cut in taxes to ease the burden on the common man.

    However, Oil Minister Dharmendra Pradhan last week had told Parliament that the government is not considering a reduction in excise duty to cool rates from their record highs.

    Rates have risen as international oil prices touched USD 61 per barrel for the first time in more than a year on improving demand outlook amid the global rollout of COVID-19 vaccines, he had said.

    Central and state taxes make up for over 61 per cent of the retail selling price of petrol and about 56 per cent of diesel.

    The union government levies Rs 32.9 per litre of excise duty on petrol and Rs Rs 31.80 a litre on diesel.

    Retail petrol rates have risen by Rs 19.16 per litre since mid-March 2020, after the government raised taxes by a record margin to mop up gains arising from fall in international oil prices.

    Diesel rates have gone up by Rs 16.77.

  • Centre trying best to reduce fuel prices, but onus also on state government: Union Minister Smriti Irani in Rajasthan

    By PTI
    JAIPUR: Union Minister Smriti Irani on Sunday said the Centre is trying its best to reduce fuel prices and the Rajasthan government should also do its part.

    “While the Centre is trying its best to reduce the fuel prices, the Ashok Gehlot government in the state has enough allocation to reduce fuel prices. Now, it is up to him how much burden he wants to reduce on the people of the state,” Irani told reporters at a press conference here.

    The Rajasthan government had recently reduced the value-added tax (VAT) rate by two per cent on petrol and diesel.

    Responding to a separate query, the BJP leader said even the Congress’ students’ wing is now collecting money for the construction of Ram Temple in Ayodhya.

    She took a dig at the Congress, saying the party had once submitted an affidavit questioning the existence of Lord Ram.

    On the farmers’ issues, Irani said 11 rounds of talks have already been held between the government and farmers.

    “As our (Union Agriculture) minister said, we are ready to talk with them (farmers),” she said.

    Irani, who holds textiles and women and child development portfolios, said the 2021-22 Union budget will play a key role in the nation-building.

    “Rs 2.23 lakh crore were allocated to strengthen the health infrastructure. The prime minister has allocated capital expenditure of Rs 1 lakh crore for construction of road. Through Ujjwala Scheme, eight lakh families were provided clean energy. And in this budget it was announced that one crore more families will be connected,” she said.